Residential_Freehold_Association_Ltd_31_Dec_2023_companies_house_set_of_accounts.html
Residential_Freehold_Association_Ltd_31_Dec_2023_companies_house_set_of_accounts.html
Company registration number:
Company limited by guarantee
Unaudited Filleted Financial Statements
for the period ended
Report to the board of directors on the preparation of the unaudited statutory financial statements of Residential Freehold Association Ltd
Period ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Residential Freehold Association Ltd for the period ended 31 December 2023 which comprise the income statement, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Members/Doc/rule/2018-rulebook.pdf.
This report is made solely to the Board of Directors of Residential Freehold Association Ltd , as a body. My work has been undertaken solely to prepare for your approval the financial statements of Residential Freehold Association Ltd and state those matters that I have agreed to state to the Board of Directors of Residential Freehold Association Ltd , as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Residential Freehold Association Ltd and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that Residential Freehold Association Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Residential Freehold Association Ltd . You consider that Residential Freehold Association Ltd is exempt from the statutory audit requirement for the period.
Chartered Certified Accountants
Speedwell MillOld Coach RoadTansleyDerbyshireDE4 5FYUnited Kingdom
Statement of Financial Position
| 31 Dec 2023 | |||
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| Note | £ | ||
| Current assets | |||
| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: amounts falling due within one year | 6 |
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| Net current liabilities |
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| Total assets less current liabilities | (2,550 | ) | |
| Capital and reserves | |||
| Profit and loss account |
(
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| Members deficit |
(
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For the period ending 31 December 2023 , the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476; The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 March 2024 , and are signed on behalf of the board by:
| Director |
Company registration number:
14398697
Notes to the Financial Statements
Period ended 31 December 2023
1 General information
The company is a private company limited by guarantee and is registered in England and Wales. The address of the registered office is 16 Ground Floor , Dufours Place , London , W1F 7SP , United Kingdom.
2 Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.
3 Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The financial statements are prepared in sterling, which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4 Average number of employees
The average number of persons employed by the company during the period was Nil.
5 Debtors
| 31 Dec 2023 | ||
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| £ | ||
| Other debtors |
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6 Creditors: amounts falling due within one year
| 31 Dec 2023 | ||
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| £ | ||
| Trade creditors |
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| Other creditors |
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